Category Archives: Money

The Trump agenda, it seems, is not set in stone. The president-elect has a range of advisors with as many ideas. Steven Mnuchin, his nominee for Treasury secretary, said in November that “we’ll take a look at everything,” even the possibility of extending the maturity of the federal debt with 50-year or 100-year bonds to take advantage of unusually low interest rates. Continue reading →

Lincoln had a bolder solution

In Donald Trump’s victory speech after the presidential election, he vowed, “We are going to fix our inner cities and rebuild our highways, bridges, tunnels, airports, schools, hospitals. We’re going to rebuild our infrastructure, which will become, by the way, second to none. And we will put millions of our people to work as we rebuild it.” Continue reading →

Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates (we pay the bank to hold our deposits rather than the reverse). Continue reading →

A look at the Green candidate’s radical funding solution

Bernie Sanders supporters are flocking to Jill Stein, the presumptive Green Party presidential candidate, with donations to her campaign exploding nearly 1000% after he endorsed Hillary Clinton. Stein salutes Sanders for the progressive populist movement he began and says it is up to her to carry the baton. Can she do it? Critics say her radical policies will not hold up to scrutiny. But supporters say they are just the medicine the economy needs. Continue reading →

Fifteen years after embarking on its largely ineffective quantitative easing program, Japan appears poised to try the form recommended by Ben Bernanke in his notorious “helicopter money” speech in 2002. The Japanese test case could finally resolve a longstanding dispute between monetarists and money reformers over the economic effects of government-issued money. Continue reading →

Sovereign debt—the debt of national governments—has ballooned from $80 trillion to $100 trillion just since 2008. Squeezed governments have been driven to radical austerity measures, privatizing public assets, slashing public services, and downsizing work forces in a futile attempt to balance national budgets. But the debt overhang just continues to grow. Continue reading →

“Print the money” has been called crazy talk, but it may be the only sane solution to a $19 trillion federal debt that has doubled in the last 10 years. The solution of Abraham Lincoln and the American colonists can still work today. Continue reading →

The bombshell publication of the “Panama Papers,” leaked from a Panama law firm specializing in shell companies, has triggered both outrage and skepticism. In an April 3 article, titled “Corporate Media Gatekeepers Protect Western 1% From Panama Leak,” UK blogger Craig Murray writes that the whistleblower no doubt had good intentions; but he made the mistake of leaking his 11.5 million documents to the corporate-controlled Western media, which released only those few documents incriminating opponents of Western financial interests. Continue reading →

Many nations that experimented with the Fed’s economic recovery plan are now going beyond the outer limits into the twilight zone of negative interest rates. Some of these nations continued to skirt in and out of the edfge of recession throughout their years of economic stimulus; so, now they’ve powered their programs into hyperdrive to see if they can escape the gravity of their circumstances. Their situation appears desperate and hopeless. Continue reading →

The test run proved that negative interest rates can push savers into minus territory. Public outrage, while registered is not heard by the central bankers. The reasoning that commercial banks will start making loans because of the cost of sitting on deposits is pure fantasy thinking. Continue reading →

The lobbying industry, despite a small decline in revenue, is still the fastest way to make big bucks in Washington.

Pity poor Washington. No doubt breaking the hearts of elected and appointed government officials, their staffs and hangers-on, the Open Secrets blog at the Center for Responsive Politics reports that the “influence industry appears to be contracting, and the trend continued in 2015.” Continue reading →

While the mainstream media focus on ISIS extremists, a threat that has gone virtually unreported is that your life savings could be wiped out in a massive derivatives collapse. Bank bail-ins have begun in Europe, and the infrastructure is in place in the US. Poverty also kills. Continue reading →

Remember those old ads showing a senior couple lounging on a warm beach, captioned “Let your money work for you”? Or the scene in Mary Poppins where young Michael is being advised to put his tuppence in the bank, so that it can compound into “all manner of private enterprise,” including “bonds, chattels, dividends, shares, shipyards, amalgamations . . .”? Continue reading →

On November 3, the US government will again run out of money due to a debt ceiling artificially imposed by Congress. This is the third time in four years that a radical faction has taken the country to the brink of default to extort concessions that are at best only marginally related to the budget. Continue reading →

Predictions are that we will soon be seeing the “nuclear option”—central bank-created money injected directly into the real economy. All other options having failed, governments will be reduced to issuing money outright to cover budget deficits. So warns a September 18 article on ZeroHedge, titled “It Begins: Australia’s Largest Investment Bank Just Said ‘Helicopter Money’ Is 12-18 Months Away.” Continue reading →

Low rates benefit investors at the expense of savers, retirees and pensioners without paychecks needing income especially harmed. At near zero percent for nearly seven years, virtually none is forthcoming for most people. Continue reading →

CHICAGO, Il—Although the 9/11 Commission and Federal Bureau of Investigation claimed they thoroughly investigated suspicious “put options” placed against the shares of United and American Airlines, as well as Swiss Re and Munich Re prior to the 9/11 terrorist attacks, they failed to investigate another set of suspicious financial transactions prior to 9/11. Continue reading →

According to a new study from Princeton University, American democracy no longer exists. Using data from over 1,800 policy initiatives from 1981 to 2002, researchers Martin Gilens and Benjamin Page concluded that rich, well-connected individuals on the political scene now steer the direction of the country, regardless of—or even against—the will of the majority of voters. America’s political system has transformed from a democracy into an oligarchy, where power is wielded by wealthy elites. Continue reading →

Slaying the euro minotaur is not easy. Greeks have been suffering for years now, having learned the hard way that prosperity with shiny euros in their hands was not miraculously just waiting around the corner. What was waiting was a hoard of German bankers, eager to buy up Greek islands for winter vacations, sleazy banks eager to syphon Greek earnings into offshore accounts, and more schemes by high financiers. Continue reading →

On December 11, 2014, the US House of Representatives passed a bill repealing the Dodd-Frank requirement that risky derivatives be pushed into big-bank subsidiaries, leaving our deposits and pensions exposed to massive derivatives losses. Continue reading →

On the weekend of November 16, the G20 leaders whisked into Brisbane, posed for their photo ops, approved some proposals, made a show of roundly disapproving of Russian President Vladimir Putin, and whisked out again. It was all so fast, they may not have known what they were endorsing when they rubber-stamped the Financial Stability Board’s “Adequacy of Loss-Absorbing Capacity of Global Systemically Important Banks in Resolution,” which completely changes the rules of banking. Continue reading →

In a few days, the Swiss people will go to the polls to decide whether the Swiss central bank is to be required to hold 20% of its reserves in the form of gold. Polls show that the gold requirement is favored by the less well off and opposed by wealthy Swiss invested in stocks. These poll results provide new insight into the real reason for Quantitative Easing by the Federal Reserve and European Central Bank. Continue reading →

In 2010, Michelle Holmes and Wendy Chen, physicians and faculty members at Harvard Medical School, published an observational study in The Journal of Clinical Oncology that showed that women with breast cancer who took aspirin at least once every week were 50% less likely to die of breast cancer. Continue reading →

As we documented in previous articles, the gold price is driven down in the paper futures market by naked short selling by the Fed’s dependent bullion banks. Some people have a hard time accepting this fact even though it is known that the big banks have manipulated the LIBOR (London Interbank Overnight Rate—London’s equivalent of the Fed Funds rate) interest rate and the twice-daily London gold price fix. Continue reading →

On January 17, 2014, we explained “The Hows and Whys of Gold Price Manipulation.” In former times, the rise in the gold price was held down by central banks selling gold or leasing gold to bullion dealers who sold the gold. The supply added in this way to the market absorbed some of the demand, thus holding down the rise in the gold price. Continue reading →

More than 5 years into the economic crisis created by Wall Street, recovery is a nothing but a meaningless word, mouthed by politicians. Yet just two years ago a bill was placed before the last Congress: the National Emergency Employment Defense Act (the NEED Act) Continue reading →

What is more frightening than the loss of your money? Since most people have, some meager amount held in some form of a financial institution, the prospect of the banksters’ cabal placing a charge against your account for the mere privilege of maintaining a deposit, is horrible. The Business Insider warns, In The Future, You May Have To Pay The Bank To Hold Your Money, and raises a very dreadful prospect. Continue reading →

Even people who are not demonetarists, people who have not heard of it or who cannot conceive of a world without money, can act in today’s capitalist and market socialist societies in ways that reflect the values that a successfully demonetized society needs. Continue reading →